- Company Formation
- Mainland Company Formation
- Offshore Company Formation
- Freezone Company Formation
- Corporate Services
Understand the government: Research the government and political structure of Saudi Arabia to gain a better understanding of the country’s political system
The Kingdom of Saudi Arabia is an absolute monarchy that is governed by the House of Saud. The country is divided into 13 provinces, each governed by an emir appointed by the king. The king is the head of state and government and is responsible for appointing the Council of Ministers and the Consultative Assembly.
The country is also a theocracy, as it is governed by Sharia law and the principles of the Islamic religion. This means that religious law is heavily intertwined with the government and political system.
The Saudi government is divided into three branches: executive, legislative, and judicial. The executive branch is headed by the king, who serves as head of state and government and is also commander-in-chief of the armed forces. The king is advised by a Council of Ministers, which is appointed by the king. The legislative branch is made up of the Consultative Assembly, which is responsible for passing laws and regulations. The assembly is composed of 150 members who are appointed by the king.
The judicial branch is responsible for interpreting and enforcing the laws of the country. It is composed of various courts, including the Supreme Court and the Court of Appeals.
So, being in the monarchy, Saudi is rapidly growing and implementing new plans which will soon make the country unbeatable and a tycoon in business development. The country teaches us one thing, if you believe, no matter what circumstances comes on the way, believe in your guts, you can achieve everything. In Saudi, monarchy system still exits, but the development the country brings sometimes a democratic country couldn’t even imagine.
Developing a knowledge-based economy by investing in research and development
Investing in the right place at the right time always matters. Saudi has invested in the right track and at the suitable time, which has lead to the development of the country. Saudi teaches us some lessons and leaves behind some hints which includes:
1. Increase public and private investments in research and development (R&D): Governments should invest in R&D to promote economic growth and innovation. Private sector investments in R&D should also be encouraged through tax incentives and other forms of support.
2. Support the development of new technologies: Governments should invest in the development of new technologies to help develop a knowledge-based economy. This could include investing in areas such as artificial intelligence, robotics, and the Internet of Things.
3. Promote education and skills development: Investing in education and skills development is essential for developing a knowledge-based economy. This should include providing access to higher education and training, as well as encouraging lifelong learning.
4. Strengthen collaboration between universities, businesses, and other stakeholders: Collaboration between universities, businesses, and other stakeholders should be encouraged. This could include initiatives such as joint research projects, technology transfer, and business incubators.
5. Encourage the use of open data: Governments should promote the use of open data to help create a more knowledge-based economy. This could include providing access to public datasets and encouraging businesses to share their data.
The Kingdom of Saudi Arabia is committed to developing its economy, infrastructure, and communities in a sustainable and efficient manner. In order to achieve this goal, the government has launched several initiatives to create a more entrepreneurial and innovation-oriented business environment. These initiatives include:
1. Establishing government-led technology parks and incubators to promote innovation and entrepreneurship.
2. Developing a new law to protect intellectual property rights and promote technology transfer.
3. Encouraging foreign direct investment in the Kingdom through tax incentives and other incentives.
4. Creating an attractive environment for venture capital investments.
5. Offering incentives to attract and retain talent in the Kingdom.
6. Enhancing the use of renewable energy sources.
7. Investing in infrastructure to support economic growth.
8. Developing a high-quality education system to create a highly-skilled workforce.
9. Establishing a modern banking system to promote financial stability and economic growth.
How development is possible: The key
How a small country, with monarchy on a side can have a growth which no other nation thought of? How a country can work according to a vision? How funding became a strong backbone? Tho these questions, Saudi is having the following answer. Development is only possible if you are willing to:
1. Learn about the culture: Research the history, traditions, and customs of Saudi Arabia to gain a better understanding of the country’s culture.
2. Explore the geography: Research the terrain, climate, and natural resources of Saudi Arabia to gain a better understanding of the country’s geography.
3. Learn the language: Research the official language of Saudi Arabia, as well as any local dialects, to gain a better understanding of the country’s language.
4. Understand the government: Research the government and political structure of Saudi Arabia to gain a better understanding of the country’s political system.
5. Research the economy: Research the economy of Saudi Arabia to gain a better understanding of the country’s economic system.
6. Visit the country: Visit Saudi Arabia to gain a more immersive experience of the country’s culture, geography, language, government, and economy.